The Gateway to Algorithmic and Automated Trading

Cobalt snags Citi as investor for FX solution, appoints Charlotte Crosswell as Advisor

First Published 15th December 2016

Cobalt DL secures Citi as an investor and a launch client for their post-trade FX solution; Charlotte Crosswell appointed as a Strategic Advisor.

Charlotte Crosswell, Cobalt DL

Charlotte Crosswell, Cobalt DL

London - Cobalt DL, the FX post-trade processing network based on distributed ledger technology, has announced that Citi has become an investor and one of the launch clients for their Cobalt FX post trade solution.

Cobalt DL has commenced beta testing with a number of FX participants on its private peer-to-peer network that uses distributed ledger technology. Cobalt DL's FX solution is set to launch in 2017, with 15 institutional FX participants already committed to the service.

As the company moves closer to a live launch, Charlotte Crosswell, former Nasdaq NLX CEO, joins as Strategic Advisor with a particular focus on strategic partnerships.

Charlotte Crosswell, Strategic Adviser, Cobalt DL, added: "With continued scrutiny on efficiencies within the FX post-trade arena, I believe Cobalt DL is extremely well positioned to drive the changes we expect to see in this industry and deliver on real cost savings for market participants."